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Fed urged to control future asset bubbles
The Federal Reserve should use regulatory powers aggressively and pro-actively to limit the threat from future asset price bubbles, Frederic Mishkin, one of the Fed’s governors, said
Data fail to dispel US manufacturing gloom
US industrial production fell sharply in April and the number of first-time claims for unemployment benefits rose, but, although weak, the data only added to the fog surrounding the question of whether the economy has fallen into recession
EU to tighten screw on Tehran bank
Bank Melli, Iran’s biggest commercial bank, is set to be banned from operating in the European Union under proposals in the final stages of discussion in Brussels
Obama team slams Bush’s Knesset speech
Barack Obama’s campaign accused George W. Bush of launching an “unprecedented political attack on foreign soil” in a speech to the Israeli Knesset that linked Mr Obama’s call for talks with America’s enemies to 1930s-style appeasement of Hitler
Bush warns against a nuclear Iran
Allowing Iran to build nuclear weapons would mark an “unforgivable betrayal of future generations”, George W. Bush told the Israeli parliament, promising that the US would continue to stand with the Jewish state in future confrontations
Fate of US housing rescue in the balance
The US Senate banking committee gather to vote on proposals to use public money to guarantee billions of dollars of refinanced mortgages and strengthen the regulation of government-backed mortgage companies
Brown dismisses leadership ‘gossip’
Prime minister brushes off leadership speculation as he begins a media blitz designed to allay public concern about the economy and re-assert his authority
Islamabad’s tribal deals spark concerns
Pakistani efforts to negotiate peace deals with militants in the border regions with Afghanistan have raised concerns in Kabul and Washington
Fed reacted slowly to crisis, says Legg chief
The Federal Reserve should have acted faster to stabilise financial markets and lessen the damage of the credit crisis, according to Chip Mason, chairman of Legg Mason, one of the world’s largest money managers
Bernanke presses US banks
Ben Bernanke, chairman of the Federal Reserve, urged US banks to continue raising capital, saying this could pave the way for an improvement in economic conditions
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COMMENT AND ANALYSIS
Is Larry Summers the canary in the mine?
Developing countries should take notice: the proposed remedies on globalisation are susceptible to protectionist misuse and point to shifting ground in the debate, write Devesh Kapur, Pratap Mehta and Arvind Subramanian
The case for a league of democracies
Ideological competition on the idea of a new international organisation is already under way, writes Robert Kagan
Analysis: Farmers cling to their subsidies
Agricultural producers no longer need protection from low prices, but it looks like a golden opportunity to reform distorting policies will be missed
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